Bitcoin | Breaking Cybersecurity News | The Hacker News

Every time a new topic trends on the Internet, scammers take advantage of it. You must have heard of Bitcoin and how in recent days it has made some early investors millionaire overnight. Yes, the Bitcoin boom is back, and it's real — a digital currency that has just crossed a new milestone today. The current price of 1 BTC or 1 Bitcoin = US$2,850. An American con man took advantage of this boom in Bitcoin market to run bogus bitcoin mining schemes and earn millions of dollars. But the bogus schemes ended as the United States Securities and Exchange Commission (SEC) has won a legal battle against two bogus, but now defunct, Bitcoin companies operated by Homero Joshua Garza — GAW Miners and ZenMiner. Garza is now facing a $12 Million (£9.2 Million) penalty for running the bogus schemes – what lawmakers have certified was a "Ponzi scheme." According to the SEC, Garza used the "lure of quick riches" in order to get people to invest in the bitcoin mi

What's the worst that could happen when a Ransomware hits a Hotel? Recently, hundreds of guests of a luxurious hotel in Austria were locked in or out of their rooms when ransomware hit the hotel's IT system, and the hotel had no choice left except paying the attackers. Today, we are living in a digital age that is creating a digital headache for people and organizations around the world with cyber attacks and data breaches on the rise. Ransomware is one of them. The threat has been around for a few years, but during 2016, it has turned into a noxious game of Hackers to get paid effortlessly by targeting hospitals, Universities, private businesses and even police departments and making hundreds of millions of dollars. Now, the Romantik Seehotel Jäegerwirt 4-Star Superior Hotel has admitted it paid €1,500 (£1,275/$1,600) in Bitcoin ransom to cybercriminals who managed to break into their network and hack their electronic key card system that prevented its guests f

Identities now transcend human boundaries. Within each line of code and every API call lies a non-human identity. These entities act as programmatic access keys, enabling authentication and facilitating interactions among systems and services, which are essential for every API call, database query, or storage account access. As we depend on multi-factor authentication and passwords to safeguard human identities, a pressing question arises: How do we guarantee the security and integrity of these non-human counterparts? How do we authenticate, authorize, and regulate access for entities devoid of life but crucial for the functioning of critical systems? Let's break it down. The challenge Imagine a cloud-native application as a bustling metropolis of tiny neighborhoods known as microservices, all neatly packed into containers. These microservices function akin to diligent worker bees, each diligently performing its designated task, be it processing data, verifying credentials, or

What a good start of the New Year for those holding Bitcoins! Web-based digital currency Bitcoin has passed $1,110 for the first time on the Bitstamp Price Index (BPI) since early November 2013. Bitcoin broke the barrier on 1 January and now is trading above $1,150 mark at the time of writing, marking a bright beginning to 2017 for the digital currency. At the time of writing, 1 Bitcoin = $1158.99. Bitcoin is a revolutionary virtual currency that has no central authority; instead, it relies on thousands of computers worldwide that validate transactions and add new Bitcoins to the system. The world's first and most famous cryptocurrency is developed around Blockchain, which is a complex cryptographic protocol and a global computer's network that oversees and verifies which Bitcoins have been spent by whom. The identity of the people spending Bitcoins is extremely difficult to trace because of its anonymous nature. Therefore, the currency is very popular among criminal

Over two months ago, the world's third largest Bitcoin Exchange Bitfinex lost around $72 Million worth of Bitcoins in a major hack. Shortly after the company encountered a $72,000,000 Bitcoin theft, an unnamed Bitfinex user from Cambridge, Massachusetts, filed a police report in September, alleging that $1.3 Million of funds were stolen from his account. Since then the Cambridge police have handed the case over to the FBI, which is working with the Bitcoin exchange as well as European authorities to recover funds stolen from the Bitfinex user, Coindesk reports . The individual claimed that he held $3.4 Million in Bitcoin in his personal wallet hosted by the Bitfinex Bitcoin exchange. But following the August's Bitfinex breach, he was left with $2.1 Million in his account. Bitfinex then notified the individual of his initial loss of approximately $1.3 Million in Bitcoin, but after the company issued IOU tokens as an emergency measure to keep the exchange operating, the l

A winning anonymous bidder bought 2,700 Bitcoins ( worth roughly $1.6 Million ) in an auction held by the United States Marshals Service ( USMS ) on Monday. The US government announced at the beginning of this month its plans to auction 2,719 Bitcoins that were seized during several criminal, civil and administrative cases like Silk Road. The US Marshals confirmed to CoinDesk that four bids were received in the auction that took place between 13:00 and 19:00 UTC on August 22. The majority of the Bitcoins in the auction were stemmed from investigations of the Silk Road online black marketplace. Included 2,719 Bitcoins in the auction were: Around 1,300 Bitcoins seized from a civil case related to Matthew Gillum, a Silk Road drug dealer, who was sentenced to nine years in prison in 2015. Only 2.8 Bitcoins directly came from Silk Road founder Ross Ulbricht , who was found guilty of operating Silk Road for illegal goods and handed two life sentences . Some 65 Bitcoins came

Another day, another bad news for Bitcoin users. A leading Bitcoin information site is warning users that an upcoming version of the Blockchain consolidation software and Bitcoin wallets could most likely be targeted by "state-sponsored attackers." Recently, one of the world's most popular cryptocurrency exchanges, Bitfinex, suffered a major hack that resulted in a loss of around $72 Million worth of Bitcoins . Now, Bitcoin.org, the website that hosts downloads for Bitcoin Core, posted a message on its website on Wednesday warning users that the next version of the Bitcoin Core wallet, one of the most popular bitcoin wallets used to store bitcoins, might be replaced with a malicious version of the software offered by government-backed hackers. Specifically, Chinese bitcoin users and services are encouraged to be vigilant " due to the origin of the attackers. " Bitcoin.org doesn't believe it has sufficient resources to defend against the attack.

Hong Kong-based Bitcoin exchange 'Bitfinex' that lost around $72 Million worth of its customers' Bitcoins last week is now offering a reward of $3.5 Million to anyone who can provide information that leads to the recovery of the stolen Bitcoins. Bitfinex revealed on August 2 that the cryptocurrency exchange had suffered a major security breach, which resulted in the loss of nearly 120,000 BTC. The hack led to a 36 percent loss for each Bitfinex customer, who will be issued tokens to be redeemed as the company is able to reimburse the losses. Now, the exchange is willing to offer 5% of the lost funds ( nearly 6,000 BTC ) as a reward for the recovery of the stolen bitcoins. The news came after a Reddit user, using alias someguy916, inquired about a reward Bitfinex would be willing to offer for the stolen bitcoins. In response to the question, Bitfinex community director Zane Tackett stated that a bounty would be awarded to anyone who has information that would hel

Yet another blow to Bitcoin: One of the world's most popular exchanges of the cryptocurrency has suffered a major hack, leading to a loss of around $72 Million worth of Bitcoins. Hong Kong-based Bitcoin exchange ' Bitfinex ' has posted a note on their website announcing the shutdown of its operation after discovering a security breach that allowed an attacker to steal some user funds. While the company did not mention a total amount lost in the breach, one of their employees — Bitfinex community director Zane Tackett — confirmed on Reddit that the total amount stolen was 119,756 bitcoins — worth up to $72 Million in cash. The cause of the security breach and the hacker behind the incident is still unclear, but the attackers appear to have mysteriously bypassed Bitfinex's mandated limits on withdrawals. "The theft is being reported to — and we are co-operating with — law enforcement," Bitfinex statement reads. "We will look at various options to

A former United States undercover agent who stole hundreds of thousands of dollars worth of Bitcoins during an investigation into the underground drug marketplace Silk Road is now suspected of stealing even more of the cryptocurrency from two other cases. Shaun Bridges is one of two former US agents who pleaded guilty last year and was sentenced in December to almost six years in prison for stealing over $800,000 in Bitcoin while investigating the Darknet marketplace. Bridges and his partner stole money from Silk Road accounts and framed someone else for it, which lead the Silk Road chief Ross Ulbricht to plan a murder. Ulbricht is now serving life in prison sentence . Ulbricht was convicted in February 2015 of running the underground black market . According to court filings unsealed on Thursday, Bridges is believed to have stolen additional funds from a Secret Service account on two different occasions months after he was initially charged. Bridges and 46-year-old fo

Meet this Robin Hood Hacker: Phineas Fisher, who breached Hacking Team last year, revealed on Reddit Wednesday that he hacked a bank and donated the money to Kurdish anti-capitalists in Rojava autonomous region in northern Syria that borders territory held by the ISIS ( Islamic State militant group ). Fisher, also known as "Hack Back" and "@GammaGroupPR," claimed responsibility for both the Hacking Team and Gamma Group data breaches. The vigilant hacker donated 25 Bitcoin (worth around US$11,000) to a crowdfunding campaign known as the Rojan Plan, which has been set up by members of the Rojava's economic committee, described by Fisher as "one of the most inspiring revolutionary projects in the world." Also Read:  Here's How Hackers Stole $80 Million from Bangladesh Bank The funds donated to the campaign came from a bank heist, though the hacker neither revealed the name of the bank nor provided any further details of the bank heist. Whe

Yesterday, BBC broke a story allegedly revealing Craig Wright as the original creator of Bitcoin digital currency Satoshi Nakamoto. However, the highly skeptical cryptographic community is definitely not yet convinced with the technical proofs Wright has yet provided to the media outlets and on his  blog . Now, Wright has promised to provide further evidence for his claim that he is behind the pseudonym, Satoshi Nakamoto. Wright's spokesman told BBC that he would " move a coin from an early block " of Bitcoin owned by Nakamoto " in the coming days. " However, the spokesman did not specify a deadline. " So, over the coming days, I will be posting a series of pieces that will lay the foundations for this extraordinary claim, which will include posting independently-verifiable documents and evidence addressing some of the false allegations that have been levelled, and transferring bitcoin from an early block. ", Wright said in a latest blog post

The mysterious creator of the BITCOIN digital cryptocurrency seems to have been identified as an Australian entrepreneur, and his name is: Craig Steven Wright. Five months after Wright, an Australian computer scientist and businessman was outed as Satoshi Nakamoto , revealed himself as the original inventor of Bitcoin digital currency. Wright has published a blog post offering Cryptographic Key as proof of his work, backed up by other technical information and the prominent Bitcoin community members have also corroborated his claim. However, Satoshi Nakamoto has always shown the desire to remain anonymous, while Wright has not. " I am not seeking publicity, but want to set the record straight, " he explains. Wright has provided some technical proofs to BBC , The Economist, and GQ media outlets that link him to the identity of Nakamoto. Craig Wright Claims He is Satoshi Nakamoto At the meeting with the BBC and Economist, he digitally signed messages using th

Ransomware has risen dramatically since last few years and is currently one of the most popular threats on the Internet. The Ransomware infections have become so sophisticated with the time that victims end up paying ransom in order to get their critical and sensitive data back. But if you are infected with Petya Ransomware , there is good news for you. You can unlock your infected computer without paying the hefty ransom. Thanks to the Petya author who left a bug in the Ransomware code. What is Petya Ransomware? Petya is a nasty piece of ransomware that emerged two weeks ago and worked very differently from any other ransomware. The ransomware targets the victims by rebooting their Windows computers, encrypting the hard drive's master boot file, and rendering the master boot record inoperable. Also Read:  How to Decrypt CoinVault and Bitcryptor Ransomware A master boot record (MBR) is the information in the first sector of any hard disk that ide

Microsoft reckoned Bitcoin was the future of payment system and added it as a payment option for Windows store at the end of 2014, but the company has silently pulled support for Bitcoin in the Windows 10 Store. In November 2014, Microsoft struck a deal with third-party bitcoin payment processor ' Bitpay ' that allowed people to use Bitcoin to purchase Microsoft's products and services from Windows Stores. However, Microsoft quietly updated the Windows Store FAQ that popped up " Microsoft Store doesn't accept Bitcoin. " The end of support for Bitcoin payments only applies to Windows 10 and Windows 10 Mobile stores.  "Microsoft Store doesn't accept Bitcoin. You can no longer redeem Bitcoin into your Microsoft account," the update reads. "Existing balances in your account will still be available for purchases from Microsoft Store, but can't be refunded." In short, you can make use of an existing balance in your accou

In last few years, we saw an innumerable rise in ransomware threats ranging from Cryptowall to Locky ransomware discovered last week. Now, another genre of ransomware had been branched out from the family of CTB-Locker Ransomware with an update to infect Websites. The newly transformed ransomware dubbed " CTB-Locker for Websites " exclusively hijacks the websites by locking out its data, which would only be decrypted after making a payment of 0.4 BTC. This seems to be the very first time when any ransomware has actually defaced a website in an attempt to convince its administrator to comply with the ransom demand. However, the infected website admins can unlock any 2 files by the random generator for free as a proof of decryption key works. Here's How CTB-Locker for Websites Ransomware Works Lawrence explained that CTB-Locker ransomware replaces the index page ( the original index.php or index.html ) of the servers hosting websites with the

If you receive a mail masquerading as a company's invoice and containing a Microsoft Word file, think twice before clicking on it. Doing so could cripple your system and could lead to a catastrophic destruction. Hackers are believed to be carrying out social engineering hoaxes by adopting eye-catching subjects in the spam emails and compromised websites to lure the victims into installing a deadly ransomware, dubbed " Locky ," into their systems. So if you find .locky extension files on your network shares, Congratulations! You are infected and left with just two solutions: Rebuild your PC from scratch or Pay the ransom. Locky ransomware is spreading at the rate of 4000 new infections per hour , which means approximately 100,000 new infections per day . Microsoft MACROS are Back It is hard to digest the fact that, in this 2016, even a single MS Word document could compromise your system by enabling ' Macros .' This is where the poin

A new machine for Bitcoin Mining called " Approximate Hardware " would make Bitcoin mining easier. Bitcoin had gained tremendous popularity over a few couple of years among the virtual currencies due to its decentralized principle. Mining a single Bitcoin is not an ice cake walk, as it requires an enormous amount of computing power to dig Bitcoins. To overcome this issue and mine Bitcoins faster, security researchers has conducted a study and made a new loophole in the mining process in an effort to mine the Bitcoins easily. How to Mine Bitcoins Faster? A team of Illinois-based researchers led by Indian Scientist, Rakesh Kumar, has designed a new hardware named " Approximate " that could reduce the pain of Bitcoin mining by 30 percent. The proposed system would make use of the faults in the hardware system such as: False Positives where an error is not present but notifies a fake error. False Negatives where an error is present but

The Nasdaq stock exchange and the Republic of Estonia have announced the use of Blockchain-based technology to allow shareholders of companies to e-vote in shareholder meetings even when they're abroad, according to Nasdaq's press release. Global stock market giant is developing an electronic shareholder voting system implemented on the top of Blockchain technology that underpins Bitcoins . Blockchain – the public and decentralized ledger technology underpins all Bitcoin transactions and logs each transfer of an asset in an encrypted "block" that is added to a permanent, transparent chain showing every deal associated with that asset. Even some of the world's major banks are also considering the adoption of the Blockchain technology. In the mid of last year, 9 of the World's renowned Banks, including JPMorgan, Royal Bank of Scotland, Goldman Sachs and Barclays , collaborated with New York-based financial tech firm R3 to create a new fram

Some of Bitcoin's Core developers have left the Bitcoin project and started building their separate cryptocurrency called DECRED . Decred aims to prevent the issues Bitcoin is currently facing regarding project governance and development funding. CEO of ' Company 0 ', Mr. Jacob Yocom-Piatt , who has funded Bitcoin development since early 2013, said the actual development of the Bitcoin cryptocurrency is funded by external entities that forms a conflict of interests between the groups and the project's core developers. According to Bitcoin's developers, these group puts limitations on input in Bitcoin's governance, selecting options that are favorable to their own interests only, and generally ignoring the developers' and project's best interests. "The Bitcoin software is controlled by a small group of people who decide exclusively what can and cannot be changed," Jacob says in a press release . "This is in part due to a la

Just hours after the Australian man ' Craig Steven Wright ' outed as the possible real identity of Satoshi Nakamoto , the anonymous creator of Bitcoin, Australian Police raided his home in Sydney. Over 10 police officers raided Wright's home in the Sydney suburbs on Wednesday afternoon. They forcefully opened the door, and 'started searching the cupboards and surfaces of the garage.' However, the Sydney police raid at Wright's home is not associated with the claims of his being involved in creating Bitcoins, rather related to the Australian Taxation Office investigation, the Guardian reported . Wright was recently identified as the mysterious creator of Bitcoin, based on leaked transcripts of legal interviews and a number of emails and blog posts. However, neither Dr. Wright nor anyone else has publicly confirmed the real identity of the founder of Bitcoin Satoshi Nakamoto. In a statement, the Australian Federal Police (AFP) officers said the raids weren